MontVue Capital Management Inc. Buys New Shares in Nucor Co. (NYSE:NUE)

MontVue Capital Management Inc. bought a new stake in Nucor Co. (NYSE:NUE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,600 shares of the basic materials company’s stock, valued at approximately $253,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Nucor in the fourth quarter worth about $377,631,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Nucor by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock worth $261,041,000 after buying an additional 36,304 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Nucor by 6.7% during the fourth quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock worth $237,949,000 after buying an additional 85,475 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Nucor by 6.5% during the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock worth $230,572,000 after buying an additional 70,917 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock worth $159,141,000 after buying an additional 153,077 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NUE shares. BMO Capital Markets lowered their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Jefferies Financial Group started coverage on shares of Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Tuesday, July 16th. Bank of America lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $187.00 to $176.00 in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.43.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Nucor Trading Up 1.0 %

Shares of NYSE NUE traded up $1.51 during midday trading on Friday, reaching $147.73. 936,619 shares of the stock were exchanged, compared to its average volume of 1,462,518. The business has a 50-day simple moving average of $154.21 and a two-hundred day simple moving average of $172.25. The company has a market capitalization of $35.42 billion, a price-to-earnings ratio of 8.70 and a beta of 1.57. Nucor Co. has a 12 month low of $139.41 and a 12 month high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The company had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the firm posted $5.81 earnings per share. As a group, equities research analysts expect that Nucor Co. will post 10.57 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, June 28th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.46%. Nucor’s payout ratio is 12.71%.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.